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The international politics of currency internationalization

Research Project

Project/Area Number 20K01498
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 06020:International relations-related
Research InstitutionNational Graduate Institute for Policy Studies

Principal Investigator

CHEY Hyoung kyu  政策研究大学院大学, 政策研究科, 教授 (20626999)

Project Period (FY) 2020-04-01 – 2023-03-31
Project Status Completed (Fiscal Year 2022)
Budget Amount *help
¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
Fiscal Year 2022: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2021: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2020: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Keywordsinternational currency / international money / renminbi / RMB / yuan / cryptocurrency / RMB internationalization / China / currency statecraft / internationalization / 国際通貨 / 通貨国際化 / 国際通貨システム / カレンシー・ステイトクラフト / 人民元
Outline of Research at the Start

この研究では、幅広い国際関係の視点から中国の人民元に焦点を当てて通貨の国際化をめぐる国際政治について調査する。
より具体的には、新しい国際通貨、特に新興勢力によって発行されたものの出現に対する外国の対応を説明し得る理論的枠組みを開発し、これにより諸外国が人民元の国際的な台頭にどのように反応したかを説明する予定である。この枠組みは、人民元の国際化に関する諸外国の政策的スタンスを決定する2つの主要な要素として、地経学的なインセンティブと地政学的な懸念を考慮したものである。本研究は、主に比較研究により実施するものである。

Outline of Final Research Achievements

This research project has made several significant achievements that contribute to the political economy literature on international currencies. In greater detail, I have conducted in-depth research on how foreign states have responded to the internationalization of the Chinese renminbi, thereby breaking new ground in studying the international politics of currency internationalization. I have developed the novel original theoretical concept of reactive currency statecraft for that analysis, and revealed that foreign states have deliberately utilized their policies related to renminbi internationalization as means of pursuing their own foreign policy goals associated with China. Furthermore, I have expanded this research project to address the political economy surrounding cryptocurrencies, while calling for greater engagement of international political economy scholarship in analyzing cryptocurrencies as money.

Academic Significance and Societal Importance of the Research Achievements

The outcomes of this research project have significantly advanced the study of the international politics surrounding internationalization of the Chinse renminbi, and have also contributed to the development of international political economy research on cryptocurrencies as money.

Report

(4 results)
  • 2022 Annual Research Report   Final Research Report ( PDF )
  • 2021 Research-status Report
  • 2020 Research-status Report
  • Research Products

    (9 results)

All 2022 2021

All Journal Article (1 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 1 results,  Open Access: 1 results) Presentation (5 results) (of which Int'l Joint Research: 2 results,  Invited: 1 results) Book (3 results)

  • [Journal Article] Cryptocurrencies and the IPE of money: an agenda for research2022

    • Author(s)
      Chey Hyoung-kyu
    • Journal Title

      Review of International Political Economy

      Volume: forthcoming Issue: 4 Pages: 1-16

    • DOI

      10.1080/09692290.2022.2109188

    • Related Report
      2022 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Presentation] Cryptocurrencies and the IPE of Money: An Agenda for Research2022

    • Author(s)
      Chey Hyoung-kyu
    • Organizer
      2022 Korean Association of International Studies Annual Conference
    • Related Report
      2022 Annual Research Report
  • [Presentation] The International Political Economy of the Renminbi: Currency Internationalization and Reactive Currency Statecraft2022

    • Author(s)
      Hyoung-kyu Chey
    • Organizer
      GRIPS SISP/MSP Seminar
    • Related Report
      2021 Research-status Report
    • Invited
  • [Presentation] The International Political Economy of the Renminbi: Currency Internationalization and Reactive Currency Statecraft2021

    • Author(s)
      Hyoung-kyu Chey
    • Organizer
      2021 International Political Science Association World Congress
    • Related Report
      2021 Research-status Report
    • Int'l Joint Research
  • [Presentation] The International Rise of the Chinese Renminbi and Reactive Currency Statecraft: The Case of South Korea2021

    • Author(s)
      Hyoung-kyu Chey
    • Organizer
      The World Congress for Korean Politics and Society 2021
    • Related Report
      2021 Research-status Report
    • Int'l Joint Research
  • [Presentation] The International Political Economy of the Renminbi: Currency Internationalization and Reactive Currency Statecraft2021

    • Author(s)
      Hyoung-kyu Chey
    • Organizer
      2021 Korean Association of International Studies Annual Conference
    • Related Report
      2021 Research-status Report
  • [Book] Handbook on Global Governance and Regionalism2022

    • Author(s)
      Saori N. Katada and Hyoung-kyu Chey
    • Total Pages
      14
    • Publisher
      Edward Elgar
    • ISBN
      9781800377554
    • Related Report
      2022 Annual Research Report
  • [Book] Handbook on Regionalism and Global Governance2022

    • Author(s)
      (Editors) Jurgen Ruland and Astrid Carrapatoso
    • Publisher
      Edward Elgar
    • Related Report
      2020 Research-status Report
  • [Book] The International Political Economy of the Renminbi: Currency Internationalization and Reactive Currency Statecraft2021

    • Author(s)
      Hyoung-kyu Chey
    • Total Pages
      206
    • Publisher
      Routledge
    • ISBN
      9781032077833
    • Related Report
      2021 Research-status Report

URL: 

Published: 2020-04-28   Modified: 2024-01-30  

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